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• Glendale and Gangi Development Settle Lawsuit through Land Swap
11/12/09
The City of Glendale and Burbank-based Gangi Development Company have agreed to a creative land swap in which the City acquires undeveloped property southeast of Pennsylvania Ave at the terminus of Deerpass Rd, while Gangi wi...
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• Santa Clara Res Project Recognized for Workforce Housing Excellence
11/11/09
The Urban Land Institute’s (ULI) Terwilliger Center for Workforce Housing has named Casa del Maestro in Santa Clara as a recipient of the 2009 Jack Kemp Workforce Housing Models of Excellence Award. The award, which is named ...
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• Unfinished Res Development Tract Outside of Denver Sells
11/10/09
In a notable distressed res development buy in Colorado, an investment entity called Arcadia Holdings at CC Highlands LLC acquired the Country Club (CC) Highlands residential tract, covering about 30 acres in Westminster, abo...
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• Receiver’s Sale of Torrance Multifamily Asset Generates $28 Mil
11/09/09
Hampton at South Bay, a 152-unit, 156.3k sf luxury apartment building in Torrance, sold in a court-appointed receiver’s ale valued at $28.1 mil, or about 185k/unit. The property is located at 20707 Anza Ave, west of Hawthorne...
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• 29-Unit Apartment Property in LA’s Chinatown Sells for $4.5 Mil
11/05/09
A 29-unit, bank-owned (REO) luxury apartment property in the heart of LA’s Chinatown traded hands in a recent $4.52 mil ($155.9k/unit) transaction. Located contiguously at 700-704 N. Hill and 709-711 N. Yale Streets, the four...
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• Trio of Multifamily Properties in LA’s Koreatown Sell for Over $7 Mil
11/03/09
A Los Angeles-based real estate investment company acquired the Kenmore Apartment Portfolio, three 1920’s vintage apartment complexes located in the heart of LA’s Koreatown, an area that is currently undergoing an urban renai...
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• BIA/SC 50+ Housing Council Announces Finalists for 2009 SAGE Awards
10/30/09
The 50+ Housing Council, a special interest council of the Building Industry Association of Southern California, announced its finalists for the 15th annual SAGE Awards. The SAGE awards recognize individuals, projects and pr...
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• LA Apartment Market Still Softening
10/29/09
Like much of Southern California, Los Angeles County is besieged by severe job losses, a battered housing market and falling household incomes. According to a fourth-quarter Apartment Research Report by Marcus & Millichap, ap...
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• Investors Spend on NoCal Apartment Communities
10/28/09
An unnamed private investor acquired Park West Townhouses, a 71-unit townhouse community in Petaluma. Completed in 1972, Park West Townhouses is a well-located, garden-style complex featuring 65 two-bedroom/one-bath townhouse...
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• Construction Gets Underway at Res Community in Novato
10/27/09
Barker Pacific Group (BPG), the developer of the 450k sf Hamilton Landing office park at the former Hamilton Air Force Base in Novato, has begun construction on a new 27 single-family home community at Hamilton. The Landing ...
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• September Marked 7th Consecutive Increase in Median Price of CA Homes
10/27/09
California home sales increased 2.1 percent in September compared with the same period a year ago, while the median price of an existing home declined 7.3 percent, according to the most recent monthly data from the California...
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• AMCAL Breaks Ground on New LA Affordable Housing Project
10/26/09
AMCAL Multi-Housing Inc recently broke ground on Andalucia Heights, a new housing development designed to provide low-income families in Los Angeles with a safe and affordable place to live. Located in L.A.’s Westlake distri...
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• Investors Snag Bay Area Multifamily Properties
10/23/09
In recent Bay Area multifamily investment activity, a 5-unit property located at 7 Seville Way in San Mateo traded hands for $1.695 mil ($339k/unit). The property consists of four one-bed/one-bath units and one three-bed/two-...
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• West LA Apartment Building Sells for $3.4 Mil
10/21/09
An 18-unit apartment property located at 1382 Kelton Ave, south of Wilshire Blvd and east of the 405 Fwy, sold for $3.39 mil ($188.3k/unit). The property contains 14k sf of space and is composed of 15 one-bedroom/one-bathroom...
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• Bay Area Apartment Property Sells for $34 Mil
10/20/09
Waterstone Millbrae, a 136-unit, 114.4k sf multifamily property in the Bay Area community of Millbrae, about 15 miles south of San Francisco, traded hands in a $33.8k ($248.4k/unit) transaction. Located at 509 Poplar Ave, the...
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• New 195-Unit Multifamily Project is Nearing Completion in Woodland Hills
10/19/09
Western National Properties is currently developing a 195-unit multifamily project in the west San Fernando Valley community of Woodland Hills, which is nearing completion. This project is the first development with the firm...
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• Financing for $37 Mil San Pedro Apartment Arranged by NorthMarq Capital
10/16/09
First mortgage financing of $30.36 mil on two San Pedro apartment properties acquired by an Orange County-based real estate investment group was arranged by Ory Schwartz of NorthMarq Capital. The properties, Harbor View Apart...
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• New Walnut Creek Condo Development More than 25% Sold
10/15/09
The first residents of 555YVR, downtown Walnut Creek’s newest condominium residences, are moving in. Located at 555 Ygnacio Valley Rd, at the gateway to Downtown Walnut Creek and just steps from the BART station in Walnut Cre...
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• Pair of Silicon Valley Apartment Sales Total Over $2 Mil
10/14/09
We’ve got a couple of recent Silicon Valley apartment sales to report. The transactions, one in Sunnyvale and the other in San Jose, have a combined value of just over $2 mil.
In Sunnyvale, a six-unit, 4.9k sf building on Ki...
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• La Mesa Fractured Condo Project Fetches $6.7 Mil
10/13/09
Stoneridge by the Lake Condominiums, a fractured condo project in La Mesa, sold for $6.7 mil. The transaction was for 47.7k sf of space, which consisted of 42 of the original 51 condominium units. The property is located at 5...
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